Taxes Consolidation Act, 1997 (Number 39 of 1997) CHAPTER 2 Offshore funds 740 Interpretation (Chapter 2 and Schedules 19 and 20). [FA90 s62] In this Chapter and in Schedules 19 and 20— “account period” shall be construed in accordance with subsections (8) to (10) of section 744; “disposal” shall be construed in accordance with section 741(2); “distributing fund” shall be construed in accordance with subsections (2) and (3) of section 744; “the equalisation account” has the meaning assigned to it by section 742(1); “Irish equivalent profits” has the meaning assigned to it by paragraph 5 of Schedule 19; “material interest” shall be construed in accordance with section 743(2); “non-qualifying fund” has the meaning assigned to it by section 744(1); “offshore fund” has the meaning assigned to it by section 743(1); “offshore income gain” shall be construed in accordance with paragraphs 5 and 6(1) of Schedule 20.